Kingstone Capital Partners Texas LLC Invests $32.55 Million in Wabtec $WAB

Key Points

• Kingstone Capital Partners Texas LLC acquired 155,465 shares of Wabtec, valued at approximately $32.5 million, bringing its ownership to 0.09% at the end of the most recent reporting period.
• Research analysts have a mixed outlook on Wabtec, with price targets ranging from $200 to $240, and a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend of $0.25 per share, resulting in an annual yield of 0.5% and a payout ratio of 14.93%.

Kingstone Capital Partners Texas LLC purchased a new stake in Wabtec (NYSE:WAB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 155,465 shares of the transportation company's stock, valued at approximately $32,547,000. Kingstone Capital Partners Texas LLC owned 0.09% of Wabtec at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Wabtec during the 4th quarter worth about $205,000. Putney Financial Group LLC bought a new stake in Wabtec during the 4th quarter worth about $52,000. MassMutual Private Wealth & Trust FSB grew its holdings in Wabtec by 9.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company's stock worth $114,000 after acquiring an additional 56 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Wabtec by 3.0% in the 1st quarter. Rhumbline Advisers now owns 313,459 shares of the transportation company's stock valued at $56,846,000 after purchasing an additional 9,041 shares during the last quarter. Finally, Greenleaf Trust boosted its stake in shares of Wabtec by 2.8% in the 1st quarter. Greenleaf Trust now owns 3,437 shares of the transportation company's stock valued at $623,000 after purchasing an additional 93 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WAB shares. Bank of America lifted their price objective on shares of Wabtec from $231.00 to $236.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Wall Street Zen lowered shares of Wabtec from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley lifted their price objective on shares of Wabtec from $220.00 to $226.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Susquehanna lifted their price objective on shares of Wabtec from $210.00 to $235.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Wabtec from $216.00 to $200.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $222.57.

Wabtec Price Performance

NYSE WAB traded down $1.72 during trading on Friday, hitting $188.65. 1,284,580 shares of the stock traded hands, compared to its average volume of 969,419. The company has a market capitalization of $32.25 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. The firm has a 50-day simple moving average of $194.93 and a 200-day simple moving average of $192.82. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. Wabtec has a 12-month low of $151.81 and a 12-month high of $216.10.

Wabtec (NYSE:WAB - Get Free Report) last issued its earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. Wabtec had a return on equity of 13.65% and a net margin of 10.92%.The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the company posted $1.96 EPS. Wabtec's revenue was up 2.3% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. As a group, analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Wabtec's dividend payout ratio is presently 14.93%.

Insider Activity at Wabtec

In other Wabtec news, CEO Rafael Santana sold 1,799 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $189.97, for a total transaction of $341,756.03. Following the completion of the transaction, the chief executive officer owned 136,729 shares of the company's stock, valued at $25,974,408.13. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 5,369 shares of company stock worth $1,042,586 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Wabtec Company Profile

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.